The Institute for Urban Economics presents the research on Housing Affordability in the major Russian metro area (as of the 3rd quarter 2020).
Despite economic distress and incomes drop housing prices displayed a strong positive trend in 16 out of 17 major metro markets in Russia.
Actually in the pandemic crisis housing markets are getting more influenced by the overall financial situation as well as by fundamental economic factors.
The price growth was encouraged among other reasons by the state program on the provision of subsidies for the mortgage interest rates accompanied by decline of savings yields.
The report: Housing affordability in the major Russian metropolitan areas 3rd quarter 2020